Social Security
Is Sen. Warren trying to turn an earned benefit into a welfare program?
John Cogan, senior fellow at Stanford University’s Hoover Institution and author of “The High Cost of Good Intentions: A History of Federal Entitlement Programs,” pens this op-ed in The Wall Street Journal highly critical of Sen. Elizabeth Warren’s plans for…
How Social Security could change under three Democratic presidential candidates
Lorie Konish of CNBC profiles what Sen. Elizabeth Warren, Sen. Bernie Sanders, and former Vice President Joe Biden have in mind for Social Security. Each seeks to expand Social Security benefits, and each raises taxes on the wealthy to pay…
Suburban mom loses $20,000 to Social Security scam
Contributor John Matarese tells the story of how a suburban mom was convinced in a phone call to withdraw $20,000 from her bank accounts and then purchase Target gift cards. The card numbers were then read to the caller over…
Don’t Hurt Your Social Security Benefits Without Realizing It
Social Security replaces only about 40% of pre-retirement income, yet 20% of married couples depend on their monthly checks for at least 90% of their income, according to the Social Security Administration (SSA). Katie Brockman points to three things you…
3 Surprising Social Security Rules You Should Know About
Maurie Backman notes just how important Social Security is to people– 21% of married couples and about 45% of unmarried seniors today depend on the program to provide 90% or more of their income. Here are three lesser known rules:…
Elizabeth Warren & Social Security
Senator Elizabeth Warren’s Social Security plan is out, and though it has not been “scored” by actuaries, one estimate is that it would extend the life of the Social Security Trust fund by only 20 years. That is far short…
Five reasons to take Social Security at 67
For those born in 1960 or later, age 67 is their full retirement age. Sean Williams of The Motley Fool lists five reasons why age 67 just might be the perfect age to claim benefits. They are: 1. You’re guaranteed…
You’ll Get Social Security Wrong Unless You Do This
Dan Caplinger’s piece here addresses an economic concept many ignore when trying to determine when to take Social Security – “money you get sooner is worth more than money you get later.” One can claim benefits as early as 62…
Managing Multiple Social Security Benefits
That Social Security is a complex program is hardly news. Christy Bieber’s comprehensive article here takes readers through the four types of benefits: retirement, spousal, disability, and survivors’ benefits. The article explains how each benefit is calculated. It is possible…
Social Security Replaces Less of Your Income Than You Think
“I don’t have to save much for retirement. I’ll get Social Security.” That has been the thinking of Americans for decades, but it’s naive because Social Security was never designed to live on. It’s a piece of an overall retirement…